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Anon3... yep, I hear you. I guess I just want clarity here. It’s natural in the late stages of an exploration lifecycle that the board will play their cards as close to their chests as regulations allow, but it usually leads to nervous shareholders like me thinking they might be hiding something! Perhaps I should just take him at face value, he is fully intent on taking this to production. Suspect his kids will seethe benefits of that, as at his age it will be more of a legacy than a career!
ToS1963, I maintain my position. He wants to go to production.
The truth is, it doesn't matter either way, imo. As production or a sale, this will be a big earner for the shareholders. I know some would prefer a sale because it brings a qucker result. But the real money would be in production, the massively increased sP and the divis. Even if it might be the kids seeing the benefit, as could very possibly be my case too.
1) Ecuador vs Australia - political risk Less in Australia 2) Alpala has 23.7m Oz Gold, 10m tonnes copper (worth 4 times the gold), Haverion has maybe 5-10m Oz Gold at Haverion plus whatever at Scallywag but nothing proved 3) SOLG own 85% of Alpala and 100% of 13 other major prospects that could be the same size as Alpala’s vs 30% of Haverion and 100% Scallywag 4) SOLG shareholders are BHP Newcrest and mainly institutions vs only Newcrest at GGP 5) SOLG is 1 year ahead in terms of prefeasbaility study and proven reserves - GGP are reliant on Newcrest for everything and basically under their control 6) Future prospects - SOLG will have a bidding war and sell for £2-4bn. £1-2z GGP won’t be a war and will sell for 20-30p IF Haverion is as big as the Newcrest CEO says.
Both good prospects but GGP majorly overvalued vs SOLG
Anon.... from all the recent rumblings from NM and the board, it would seem, on the surface, that you are right here, and he fully intends to take this to production. Personally, I don’t think so, I think he’s talking that up to ensure best price possible for any offer. Whatever, it hopefully won’t be too much longer before we find out who is correct. In my view, last night makes even less sense in the taking it to production scenario. The funds raised are laughable vis a vis yielding a mine from scratch. All that said... I, along with most long term holders, did not invest here because we wanted to support a mining start up. We invested in an exploration company. I for one have neither the desire nor inclination to wait a further 7 or so years for a return. Should you prove to be correct, I will probably do as you suggest and stick them in a drawer. My kids will see more benefit than I will I suspect! Either way... unforeseen events nonwithstanding, we should make good money here. It’s just a question of when.
I'm overall very bullish about Solg, but the earlier comment that this is a boring share fascinated me. I've seen this go from 3p to 40p and back down to 10p and anywhere and everywhere in between. And I've been in and out of it quite a few times, making reasonable profit. How people think they haven't had chances to make money is beyond me. But one thing I've noticed about the Solg SP is that it has an amazing ability to just the opposite of what you expect. Hence I'm fully confident I'm going to be adding at sub 20p.
That probably sounds really negative, but I'm sure many of you know I'm probably right.
And those who want Solg to discover, sell, rinse and repeat, sorry, you've constantly been told by NM that he wants to take this to production. I firmly believe that that's what he wants to happen. And he'll fight tooth and nail to achieve it. Which will probably take another six or seven years, minimum, imo. If you don't like that idea, your best bet is to either sell down or just put them in the bottom drawer. If it's the latter, I'm sure you'll be very pleasantly surprised when you look again.
Just awful guys. Pathetic playground stuff. If you were really interested in this company you would be discussing this massive volume with 50% of it after hours. Maybe this is a watershed moment. Think it could move 3p on Monday. Just not sure which way!!
If people aren't buying at 21.5p then I'm declaring them insane.
II's don't get involved in stocks at 21.5p with a view of exiting at 21.5p. When the dust settles, normal service will be resumed and that's thechannel from 21p through to 45p.. Anything extra and it's buy out time.
From what I've witnessed in my short years of trading / investing (only 11yrs I'm afraid) every single share issuing shares via placings the co's share price drops to and more often than not below the placing price........
If the broader meerkats are to brush off the covid-19 pandemic & ensuing economic malaise as if it's not even a thing, then things will continue to look up for equities, and resources............
I see copper has continued to rally.....and gold maybe tipping over [watching price action for confirmation].........
Then again if markets turn sour again and start to reflect a bit of reality [although todays NFP's US labour market was much more positive - expected -8mil job losses but actually posted a gain of +2.5mil] - then maybe we'll have to re-think & my previous EWT count may well come to pass...............
Anyways, I'm prepared to add whilst it makes sense to!
ps conq - I didn't accuse you of lying - I simply reported your posts!
Can anyone tell me the benefit of scrambling for a placing last night [as a PI]? The SP is below the placing, so WTF? Why should such an action stimulate a response from a pi when normally they would never consider 'topping up'. So NM dilutes the company by 0.5% and then the market spanks his a-ss by dropping the stock a further 8%. Thanks NM, thanks xx
Don’t worry Barry and don’t listen to all the noise on here...we are fully funded and sitting pretty ready for the next leg..I have been here for years and as soon as the a***holes come out then there is usually something interesting not too far away:)
As these deals are done and dusted at 21.5p I’m not sure what effect they will have on the SP come Monday if any. I hope so but I’ve only been in since March and I’ve not seen this before. Please enlighten me if you can and have a safe weekend all.
My guess today is that an II wanted a piece of the action at no more than 21.5p, so MMs bidding 21.4p most of the day to fill the buy at 21.5p. That’s about £150k made by them on the spread for ~30m shares. Easy money being an MM, when all you have to do is fill orders regardless of whether they’re buys/sells.
Interesting times for SOLG though. Let’s hope the proceeds get put to good use.
It’s great when you have 2 companies wanting to buy you out, with 3 we may just possibly get 50% of what we are worth, look down The back of The settee and porn the wedding ring, you will never get a chance to buy at these prices again.
I can recall about 70 million traded on one day February/March 2017 when the share price was under 4p having no effect on the share price at that particular time.Was really surprised it didn’t raise any eyebrows at the time ??